visimoney
TLDR:
- Moove, a global mobility fintech company, raises $100 million in Series B funding at a $750 million valuation.
- Funding round led by Uber and Mubadala, with other investors including The Latest Ventures, Africinvest, and more.
Moove, a mobility fintech company, recently announced that it has raised $100 million in a Series B funding round, valuing the company at $750 million. The funding round was led by Uber and Mubadala, with other prominent investors such as The Latest Ventures, Africinvest, Palm Drive Capital, and others participating. This investment will enable Moove to expand its customer-focused vehicle financing offering to 16 markets worldwide by 2025, with a focus on electric vehicles. The company has raised over $250 million in equity and $210 million in debt funding since its launch, impacting over 80,000 lives globally and facilitating over 30 million trips. Moove achieved $115 million in ARR last year, with plans to introduce 45,000 new vehicles to its platform. The company aims to drive towards profitability and sustainability while leading the way in the electrification of mobility.
Moove’s Founder, Ladi Delano, expressed gratitude for the support from investors like Uber and Mubadala, highlighting the positive impact the company’s products have on its customers. Ali Eid Al Mheiri, Executive Director of UAE Diversified Assets at Mubadala, reaffirmed the organization’s commitment to supporting Moove’s vision and capabilities through funding. The company’s focus on sustainability, profitability, and customer satisfaction underscores its mission to lead the electrification of mobility and contribute to a zero-emission future.
